The Ethena Foundation has introduced a proposal to implement a fee switch that would allocate 95% of net protocol revenue toward repurchasing ENA tokens. This move aims to support the token's value by creating consistent buyback demand, according to CoinTelegraph.
In addition, the Foundation has put forward a vote on purchasing the token supply held by major early investors, signaling a strategic effort to consolidate ownership and potentially reduce circulating supply. Following these announcements, the ENA token saw a notable price increase of 10%, CoinTelegraph reported.
For Japanese investors, this development underscores a growing trend among crypto projects to actively manage tokenomics through revenue allocation and buybacks, which could influence market dynamics in the region's expanding digital asset sector.